Payment loan

Jacob Mulenga sues Kalu for non-payment of his loan facility

INTERNATIONAL footballer Jacob Mulenga sued football icon Kalusha Bwalya, Optimize Company Limited and Caluza Investments Zambia Limited in the Lusaka High Court for non-payment of interest on a loan facility in the amount of US $ 50,000.

Mulenga demands payment of the outstanding balance of the loan facility.

He wants a specific execution order for the agreements between the parties dated June 11, 2020 and July 1, 2020 and interest at the rate of commercial bank loans.

In his statement, Mulenga said on June 11 last year, in an agreement facilitated by Caluza’s investments, he offered Kalusha a loan facility of US $ 20,000 and interest of the equivalent amount.

He said that on June 16, 2020, Bwalya, former president of the Zambia Football Association, borrowed an additional US $ 10,000 with interest of US $ 5,000.

“On July 1, 2020, the Plaintiff and the Defendant entered into an agreement facilitated by Caluza Investments, in which the Plaintiff offered and the Defendant accepted a loan facility of US $ 20,000 with interest of US $ 20,000,” Mulenga said.

He said the 1988 African Footballer of the Year in January 2021 paid US $ 20,000 as part of his loan repayment and that in August of this year Optimize Company pledged to write off Kalusha’s debt. .

“On August 30, 2021, Optimize Company paid the complainant $ 30,000 through his Zambian bank account in honor of his obligation to repay the loan on behalf of Kalusha,” Mulenga said.

“It was agreed that the unpaid loan repayments were to be made by bank transfer to the applicant’s bank account number 0150141285300 held at Standard Chartered bank which has not been credited since August 30, 2021 and despite a reminder and requests of the defendants to pay the amounts owed, the defendants failed or neglected to do so as a result of which the plaintiff suffered loss and damage.

He further claims costs and expenses incidental to the action and any other remedy that the court may deem appropriate.

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